Our View of Global Opportunity

The Calamos Approach to Investing Globally

Dynamic secular trends are creating new investment opportunities—not just in the United States, but around the world. At Calamos Investments, we are dedicated to helping investors benefit from the potential of the global markets.

Global Asset Allocation Expands Growth Potential
Although the global economy is increasingly synchronized, distinct trends create unique opportunities in different countries and regions. A portfolio comprising domestic and international investments may be better positioned for long-term growth than an exclusively domestic allocation. As the chart below shows, the U.S. equity market has both outperformed and underperformed the international (non-U.S.) markets.

Performance of the U.S. market relative to the international market
Calendar year returns, 1979-2006

A Thematic Approach to Global Opportunities

The Calamos Approach to Investing Globally
Our View of Global Opportunity Investment Process A Thematic Approach to Global Opportunities Comprehensive Research Guides Security Selection Global/International Strategies
Global/International Funds
Calamos Global Growth and Income Fund	Fact Sheet
Calamos International Growth Fund	Fact Sheet
Calamos Global Equity Fund	Fact Sheet
Literature
View Prospectuses The Calamos Approach to Investing Globally Brochure
For more information, call your investment professional or Calamos Investments at 800-582-6959.

Past performance is no guarantee of future results.

Source: Lipper, Inc. The U.S. equity market is represented by the MSCI U.S. Index; international markets are represented by the MSCI World ex-U.S. Index (USD), a benchmark of stocks in developed markets (excluding the United States) in North America, Europe and the Asia/Pacific region. Indexes are unmanaged and assume reinvestment of dividends. They do not reflect any fees or expenses or sales charges. Investors cannot invest directly in an index.

Before investing carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus containing this and other information or call 800-582-6959. Read it carefully.

Important Information About Risk
International Growth Fund, Global Growth and Income Fund and Global Equity Fund: These Funds may invests in small- and mid-cap company stocks, which have historically presented greater risks than larger, more established companies. You should also know that each of these Funds may invest up to 100% of its assets in the securities of foreign issuers. As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. The Funds may invest in securities issued by companies in emerging markets; these may present additional risk due to the potential for greater economic and political instability in less developed countries.

Global Growth and Income Fund: Investments in lower-rated securities may present greater risks than investments in higher-rated securities. In addition to market risk, there are certain other risks associated with an investment in a convertible bond, such as default risk, the risk that the company issuing debt securities will be unable to repay principal and interest, and interest rate risk, the risk that the security may decrease in value if interest rates increase.

NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE

Calamos Financial Services LLC, Distributor

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